June 2 – Bulgaria’s Levski Sofia is close to solving one of its most serious financial problems that has plagued the club for years.
Negotiations have started with finance house Money +, which is set to buy the club’s debts to the National Revenue Agency (NRA). Levski’s debts to the state amount to more than BGN 11 million (€5.5 million) and have proved a serious obstacle for the club’s progression in recent years.
Money Plus Management AD is a financial institution that generally operates consumer lending services.
Money + said they are ready to pay Levski’s debts to the state, but want to receive part of the club’s marketing income in return, including a percentage of the club’s revenue from the sale of items from Levski’s club shop.
Reports saythe contract between Money + and Levski will be for 10 years, though there has beenno official confirmation of the deal.
Levski turned to the loan markets after experiencing difficulties meeting monthly payment to the National Revenue Agency, which amount to nearly BGN 150,000 (€75 000).
The Money + company is no stranger to Bulgarian football. It is one of the main sponsors of Lokomotiv Plovdiv, and its owner is one of the executive directors of Lokomotiv.
Last year, the credit company also became a kit sponsor of Bulgarian referees. The company helps the Bulgarian Football Union not only financially, but also logistically – the referees have special cards with which they can use for discounts when refuelling while traveling to matches.
Contact the writer of this story, Aleksander Krassimirov, at moc.l1701599060labto1701599060ofdlr1701599060owedi1701599060sni@o1701599060fni1701599060